(Reuters) – Warner Bros Discovery is shutting down three of its videogame development studios in a move aimed at boosting profitability for its gaming division amid a sluggish recovery in the market, a spokesperson for the company’s games unit said on Tuesday. The studios to be closed are Player First Games, Warner Bros. Games San…
By David Lawder, Andrea Shalal WASHINGTON (Reuters) -President Donald Trump opened yet another front on Tuesday in his assault on global trade norms, ordering a probe into potential new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, the power grid and consumer goods. Trump, looking to…
(Reuters) -Electric-vehicle maker Lucid Group said on Tuesday its Chief Executive Officer Peter Rawlinson will step down from the role, and forecast that vehicle production will more than double this year, sending the company’s shares up 11% in extended trading. The company’s operating chief, Marc Winterhoff, will take the position of interim CEO. “Now that…
(Reuters) – McDonald’s said on Tuesday it would not impose any surcharges when serving eggs as part of its meals and will also launch $1 McMuffins on its app, in a move to attract consumers in the United States. “Unlike others making news recently, you definitely WON’T see McDonald’s USA issuing surcharges on eggs, which…
By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) – The American Petroleum Institute trade group on Monday pressed for a nationwide policy on higher-ethanol blends of gasoline after the President Donald Trump’s administration said on Friday it would move ahead with expanded sales of the product in certain Midwestern states. The U.S. Environmental Protection…
By David Lawder WASHINGTON (Reuters) – The U.S. Trade Representative’s office has proposed charging up to $1.5 million for Chinese-built vessels entering U.S. ports as part of its investigation into China’s growing domination of the global shipbuilding, maritime and logistics sectors. USTR said in a January 16 report on a probe launched during the administration…
By Dietrich Knauth NEW YORK (Reuters) – Crafts retailer Joann Inc plans to close all of its stores in bankruptcy, after failing to find a buyer willing to preserve some of the 82-year-old company’s 800 U.S. retail locations. The company plans to sell all its assets to a buyer group that includes its lenders and…
(Reuters) – JPMorgan Chase said on Monday it was setting aside another $50 billion for its direct lending push, as the Wall Street giant looks to expand its foothold in the rapidly growing private credit market. Traditional lenders such as JPMorgan, Citigroup, and Wells Fargo are rushing to grab a bigger slice of the booming…
(Reuters) – Uber’s CEO Dara Khosrowshahi said on Friday that both he and the ride-hailing firm are supportive of U.S. President Donald Trump’s initiative to eliminate taxes on tips received by its drivers. “I think the President has said he believes in no taxes on tips generally. We think it’s a terrific idea and we…
By Nathan Layne (Reuters) – The U.S. Internal Revenue Service has blocked a key aide to tech billionaire Elon Musk from accessing individual taxpayer returns or other personal information as part of a deal signed between the tax-collecting agency and the Trump administration. The agreement would seem to avert what some IRS officials had privately…
